The paper 'The Social Responsibility of Business to Increase its Profits' is a good example of a Business Case Study. Long ago, social responsibility was an exercise that was only carried out by philanthropic businesses and therefore it was seen as a separate business goal. This practice is now fundamental in many businesses as various company goals have changed. The increased economic instability and the global market competition have enabled organisations come up with various techniques of increasing profits. Business as an economic activity is aimed at earning profits.
However, some businessmen have been spending millions of shillings in developing structures such as streets and parks (Bulkeley 2001, pp. 430-447). Other people engage in research and development management in order to improve the quality of their products. Brand (2007, p. 47) shows the provision of housing, health care, and education as other activities that most businessmen engage in for the need of the society. Firms in the global market have also devoted available resources to the community for example, through the provision of social amenities in order to achieve long-run interests for example through an increase in profits.
The strategy practiced by firms also helps to build a good reputation thus attracting desirable employees to the organization. Other worthwhile effects of using social responsibility are to reduce wage bill or sabotage (McBarnet et al. 2007). The above study shows a discussion on the importance of using social responsibility in business in increasing profits. The concepts of social responsibility of business are explained in this study as well as the theory of social values and business ethics. Pride et al. (2008) describes that social responsibility is a theory applied in organisations in order to benefit society through the provision of social amenities.
A business that practices social responsibility is one that realises that it is important to have a better world and this can be achieved through supporting communities. Many organizations have also realized that competitive advantage is achieved through several considerations of the communities such as providing social and environmental support. According to Crowther (2000, p. 20), social responsibility can be practice in both profit-making organisations and also in non profit organisations.
Public sectors, interest groups, and potential investors may also be involved in providing to the community. Some of the issues solved through the practice involve health safety, provision of educational institutions, and protection of animal and human rights through maintaining a clean environment. Businesses also benefit from social responsibilities as it becomes easier to respond to strategy issues. This is by dealing with the internal and external economic and social issues. According to Habischet al. (2005) social responsibility could also mean corporate giving, community involvement, community development, or corporate social marketing.
The above titles mean a commitment to improve the well being of a society through open business practices or by offering contributions that help a community as a whole. The activities carried out are not mandatory but voluntary practices meant to describe a business as socially responsible. Social responsibility enables an organization to be part of sustainable economic development. This is will be achieved by interrupting community families, employees, and the entire society and enabling these communities to improve their standard of living.
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